Banking: Council agreement on measures to reduce risk

Source: Bulgarian presidency of the EU (Bulgarian Presidency) i, published on Monday, May 28 2018.

On 25 May 2018, the Council agreed its stance on a package of measures aimed at reducing risk in the banking industry.

Ministers asked the presidency to start negotiations with the European Parliament as soon as the Parliament is ready to negotiate.

The proposals are intended to implement reforms agreed at international level following the 2007-08 financial crisis. Presented in November 2016, they include elements agreed by the Basel Committee on Banking Supervision and by the Financial Stability Board (FSB).

Strengthening existing EU rules, the aim is to ensure that any outstanding challenges to financial stability are correctly addressed.

“The agreement on the banking package today will enable us to make progress on other elements of the banking union. Today’s agreement will send a positive signal to the market. We hope therefore that the European Parliament will be able shortly to start negotiations, allowing us to agree on these proposals and enact them as soon as possible”.

Vladislav Goranov, minister for finance of Bulgaria, which currently holds the Council presidency

Read the full press release here.

Visit the meeting the page on the website of the Council of the European Union.

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